Health and wellness trends coupled with the economic recession have caused a landslide in retail volume sales of soup. High sodium content, chemical additives and competition from other categories have contributed to consumers choosing to leave soup.
In 2018, the Brazilian real was significantly devalued in comparison with the US dollar, and the prices of imports skyrocketed. The currency fluctuation is due to an extremely unstable political environment and the lack of progress on measures such as social security reform which, if unaltered, will break the country’s accounts.
While dehydrated soup still achieves the highest value sales, it is expected to grow at much slower rates during 2018-2023 than in the review period. This stagnation is occurring for several reasons, including the perception that the little healthiness that this type of product offers is not enough to justify a few minutes of preparation.
While Nestlé Brasil Ltda has long enjoyed a comfortable leadership of soup in Brazil, Unilever Brasil Alimentos Ltda has successfully stolen some of its competitor’s value share. Nestlé soups are the traditional, known flavours of its trusted Maggi brand, such as meat, chicken, and bean soups.
Ajinomoto Co Inc’s brand, Vono, is suffering with the increased strength of health and wellness trends. The brand held a significant value share when soup diets were common and consumers associated healthiness with weight loss.
Besides competing with each other for value share, soup players in Brazil compete fiercely with other categories that offer practical meal options. During economic downturn that saw several million jobs lost, consumers began to search for informal, alternative forms of income.
You have no recently viewed reports.
Why not browse through our Featured or Trending Reports to see what we have to offer?
Discover the latest market trends and uncover sources of future market growth for the Soup industry in Brazil with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Soup industry in Brazil, our research will save you time and money while empowering you to make informed, profitable decisions.
The Soup in Brazil market research report includes:
Our market research reports answer questions such as:
Why buy this report?
This industry report originates from Passport, our Packaged Food market research database.